Accounting case study 33
Rayan20
CasePart3-ProcessCosting-BlankFile.xlsSheet1
| Process Costing Base Data: | ||||
| List Your Product Name Here | ||||
| ENTER YOUR INDIVIDUAL CASE NUMBER HERE | 6891 | |||
| (THIS IS IN YOUR GRADEBOOK AND IS THE NUMBER USED IN PART 2) | ||||
| First Name | Last Name | |||
| Enter Your Name Here | ||||
| BASE DATA: | ||||
| UNITS: | ||||
| Beginning WIP Inventory (20% complete as to CC) | 5,000 | |||
| Units started | 20,000 | |||
| Units completed and transferred out | 15,000 | |||
| Ending WIP Inventory (Mat 100 %, CC 50 % complete) | 10,000 | |||
| Costs: | ||||
| Beginning inventory: | ||||
| Materials | $ 4,000 | |||
| CC | $ 1,000 | |||
| Current period: | ||||
| Materials | $ 16,000 | |||
| CC | $ 4,000 | |||
| All materials are added at the beginning of the process | ||||
| WITH THE ABOVE DATA SOLVE THE FOLLOWING QUESTIONS REGARDING YOUR PRODUCT: | ||||
| What is your Product's Equivalent units (EUP) for Mat & CC using Weighted Average? | Materials EUP | CC EUP | ||
| Record your answers here | ||||
| What is your Product's Equivalent units (EUP) for Mat & CC using FIFO? | Materials EUP | CC EUP | ||
| Record your answers here | ||||
| What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using Weighted Average? | Materials Cost per EUP | CC Cost per EUP | ||
| Record your answers here | ||||
| What is your Product's Cost per Equivalent unit (EUP) for Mat & CC using FIFO? | Materials Cost per EUP | CC Cost per EUP | ||
| Record your answers here | ||||
| What is your Product's Cost of ending WIP inventory using Weighted Average? | End MAT cost in WIP | End CC cost in WIP | ||
| Record your answers here | ||||
| What is your Product's Cost of ending WIP inventory using FIFO? | End MAT cost in WIP | End CC cost in WIP | ||
| Record your answers here | ||||
| Check Figures: | ||||
| Weighted Average | FIFO | |||
| Your product's total cost (Mat AND CC) per equivalent unit is: | $ 1.05 | $ 1.01 | (rounded) | |
| Check the order of your formula calculations | ||||
| For example, if your cell a1 is 15 and cell b1 is 4 and cell c1 is 2. | ||||
| You want to add cells a1 and b1 and then divide that sum by cell c1 | ||||
| If your excel formula is a1+b1/c1 then your calculation result is 16.333 | ||||
| If your excel formula is (a1+b1)/c1 then your calculation result is 9.5 | ||||
| The result 9.5 would be the correct answer. | ||||
| Case Part 3 Grading: | Possible Points | Earned Points | ||
| 2 points for each correct answer | 24 | |||
| 1/2 point for use of excel formulas to support answers | 6 | |||
| Total points for case part 3 | 30 | 0 |
&CACC 311
Interactive Case Part 3 - Processing Costing
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